Minerva Neurosciences, Inc. (NASDAQ:NERV) Short Interest Update

Minerva Neurosciences, Inc. (NASDAQ:NERV) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 26,100 shares, a drop of 54.1% from the February 28th total of 56,900 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 42,400 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Minerva Neurosciences stock. Northern Trust Corp raised its holdings in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 60.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,878 shares of the biopharmaceutical company’s stock after buying an additional 13,829 shares during the quarter. Northern Trust Corp owned about 0.53% of Minerva Neurosciences worth $82,000 as of its most recent filing with the Securities & Exchange Commission. 34.56% of the stock is currently owned by hedge funds and other institutional investors.

Minerva Neurosciences Price Performance

NASDAQ NERV remained flat at $1.81 during trading hours on Friday. The company’s stock had a trading volume of 10,508 shares, compared to its average volume of 28,423. The company has a market capitalization of $12.66 million, a price-to-earnings ratio of -4.11 and a beta of 0.10. Minerva Neurosciences has a fifty-two week low of $1.42 and a fifty-two week high of $3.69. The company’s 50 day moving average is $1.93 and its 200 day moving average is $2.24.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.49. Sell-side analysts forecast that Minerva Neurosciences will post -0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. HC Wainwright reissued a “neutral” rating and issued a $5.00 price target on shares of Minerva Neurosciences in a research report on Wednesday, February 26th. StockNews.com started coverage on shares of Minerva Neurosciences in a report on Wednesday. They set a “sell” rating on the stock.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases. Its lead product candidate is roluperidone (MIN-101) for the treatment of negative symptoms in patients with schizophrenia, currently submitted an New Drug Application (NDA); and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.